The Bases Conversion and Development Authority (BCDA) remitted PHP8.42 billion in asset disposition proceeds to the Bureau of the Treasury (BTr) on Thursday.
BCDA President and Chief Executive Officer Joshua Bingcang formally turned over the check to Finance Secretary Frederick Go.
For this year, BCDA’s total remittances from its asset disposition already amounted to PHP11.5 billion, 267 percent higher than the PHP3.1 billion contribution in 2025.
The amount will be used for the modernization of the Armed Forces of the Philippines (AFP) and other critical socioeconomic programs.
“This will be the biggest under the present administration of President Marcos,” Bingcang said in a briefing at the Department of Finance (DOF) office in Manila.
Bingcang said the PHP8.4 billion is equivalent to close to 500 kilometers of national roads, over 40 hospitals, and more than 9,000 housing units.
Including its dividend remittances of PHP2.6 billion, which was turned over to the BTr last May, BCDA’s total remittances for the year have reached a record-high of PHP14.1 billion.
Under Republic Act 7227, or the Bases Conversion and Development Act of 1992, BCDA is mandated to remit a portion of its proceeds from the sale, lease, or joint venture development of former military camps in Metro Manila to support the modernization of the AFP and other government programs. (PNA)
